VisionNav Robotics develops autonomous forklifts, stacking vehicles and other logistics AGVs, combining vision, radar and other sensing tech to operate indoors and semi-outdoors. The company plans to invest the new proceeds in R&D and to broaden use cases beyond horizontal and vertical movement to stacking and truck loading. It has been expanding internationally, dispatching robots across Southeast and East Asia as well as the Netherlands, the U.K. and Hungary, and is setting up subsidiaries in Europe and the U.S. VisionNav expects 50–60% of revenues to come from abroad in the next few years (up from 30–40% today). Last year the company reported sales revenues between ¥200M and ¥250M (~$31M–$39M) and currently employs about 400 people, with a target of roughly 1,000 staff by year-end. The firm cites a China-based manufacturing and R&D cost advantage versus international rivals such as Seegrid and Balyo. VisionNav Robotics develops vision-guided driverless solutions for industrial vehicles, principally automated guided forklifts and vehicle transformation services. It integrates visual control, perception and 5G technology into industrial vehicles and offers a central control dispatching system plus a multi-object location detection system for multilevel system integration. The company serves intralogistics and warehouse logistics across sectors including automotive, 3C, food and drug, e-commerce, retail, 3PL and aviation, and has deployed solutions at over 50 project sites. Since its founding in 2016, VisionNav has reached cooperation with more than ten Fortune Global 500 enterprises. The company recently completed a B1 round raising up to RMB100.00 million; proceeds will be used for continued R&D to improve visual control and perception, to break through demanding-scenes applications, and to scale the business. Management plans to accelerate nationwide commercialization, improve penetration in rigid scenarios, and expand overseas starting from Hong Kong to Southeast Asia, East Asia, the Middle East, and finally Europe and America.

Total raised

$90M

Funding rounds

2

Latest round

Series C

Latest activity

Apr 2022